The stock market indices closed the week with a bang, closing up again with the Dow taking out the significant 11,000 level Friday just before the close.
Net on the day, the Dow ended up 70.28 to 10,997.35, and the S&P 500 was up 7.93 at 1194.37, which was just 29 cents of the high. The Nasdaq 100 closed right at the high at 1994.48 up 13.70.
Advance-declines were better than 2 to 1 positive on the New York Stock Exchange, but just 14 1/2 to 12 positive on Nasdaq.
TheTechTrader.com board was active and mostly higher today. Leading the way by far was Atlas Energy, Inc. (ATLS), up 6.41 at 38.22.
Other point-plus gainers were Rex Energy Corporation (REXX) up 1.08 to 13.88, Gentium (GENT) up 1.04 at 5.10, and Allscripts-Misys Healthcare Solutions, Inc. (MDRX) up 1.56 to 22.41.
In addition, Mindspeed Technologies (MSPD) gained 81 cents to 8.83, SciClone Pharmaceuticals, Inc. (SCLN) up 57 cents to 4.24, and Oyo Oilfield (PAP) up 50 cents to 4.95.
Other gainers of note in the junior oil group included Callon Petroleum Co. (CPE) at 7.53 up 48 cents. Houston American Energy Corp. (HUSA) snapped back 43 cents to 14.20, and Northern Oil and Gas, Inc. (NOG) 65 cents to 17.15.
American International Group (AIG) gained 55 cents to 38.14, China Automotive (CAAS) 49 cents to 21.67, and Salix Pharmaceuticals (SLXP) 93 cents to 39.21.
On the downside there were no point-plus losers and most of the stocks that were down today were down just small fractions.
Stepping back and reviewing the hourly chart patterns, the indices were volatile in the morning but higher, and then moved steadily higher mid-morning before consolidating again early afternoon, only to come on again in the last 1 1/2 hours with a bang and a thrust into the close. They closed near the highs for the day going away and near the highs for the week as well as the highs for the year. A very strong close as the rally continues.
Good trading!
Harry
